Partner Kerala targeting local investors keen to support hometowns

TechnoparkToday.com : The Partner Kerala Urban Development Meet is looking to attract investments primarily from individuals who want to have a stake in the growth of their home towns and cities, and contribute to their local communities, Minister for Urban Affairs Shri Manjalamkuzhi Ali has said.

“We are not reaching out to foreign investors and companies, but to local businessmen, entrepreneurs and non-resident Keralites who have the capital and want to invest it in worthwhile development projects in their own localities,” the Minister told delegates at awareness building roadshow in Trivandrum conducted on Wednesday ahead of the Partner Kerala meet in Kochi from February 24-25, 2014.

He said the 60 municipalities, five corporations and the five development authorities that administer the cities and towns in Kerala today face crippling shortage of funds, often struggling to pay salaries to staff. Most generate very little revenue and are almost entirely dependent on the limited allocations from the state budget.

“But what these local bodies do have is landed property and assets which can be utilised for income-generating projects developed through public-private partnership (PPP),” he said. “Kerala is a state with very high rates of rural to urban migration. Our expanding cities desperately need the infrastructure to support rising populations.”

The local bodies have submitted project proposals worth Rs 5,000 crore for presenting at Partner Kerala. Even if 10% of these projects materialise, it will be a good start; a humble beginning for sustainable income generation in the future,” Shri Ali added.

Dozens of business investors and stakeholders from around the city took part in the roadshow on Wednesday. Hon’ble Trivandrum Mayor Adv K. Chandrika, TRIDA Chairman Shri P K Venugopal, Partner Kerala Meet Coordinator Shri Kabir B Harun , Director of Urban Affairs Shri E Devadasan and Shri E K Prakash, Special Secretary, Finance, also spoke on the occasion.

Trivandrum Corporation presented five projects worth more than Rs 68 crores and the Thrissur Corporation made a presentation on the Rs 700 crore plan for development of Sakthan Nagar at the roadshow.

These are among the 80 projects that will be showcased at the Partner Kerala Meet next week. Hundreds of potential investors from not only Kerala but also within the country and abroad are expected to take part in the meet. They will be offered investment opportunities in projects across a number of areas such as waste management, sewerage, flyovers, bridges and parking lots, bus terminals, comfort stations and markets; amenities like shopping complexes, convention centres and multiplex cinema halls and amusement parks, besides parks, town beautification, street lights and hoardings.